Indian managed to turn a profit for the first time in 2023 since it belongs to Polaris

Polaris has shared its results for the fourth quarter and fiscal year 2023, and although not everything is good news, the giant has reported that there is a notable advance for them that deserves an important mention: Indian Motorcycle posted profits in 2023.

This marks a significant milestone, as it is the first time since the acquisition of Indian in 2011 by Polaris that the iconic American has made profits. While the earnings report does not offer specific figures, grouping the results of Indian with other brands Polarisas Slingshot, Goupil and Aixam, Polaris confirmed that Indian Motorcycle has reached its first profitable year in 2023.

In the financial results reports of Polariswhat stands out is that the gross profit margin of Indian has improved by almost 600 basis points over the last quarter, which is equivalent to an increase of almost 6%.

Good news from Polaris about its Indian Motorcycle brand

This marks the sixth consecutive quarter of growth of more than 250 basis points. In contrast, the road segment of Polaris as a whole, experienced a 323 basis point decline in gross profit margin during the same quarter, primarily due to costs associated with Goupil.

Indian Motorcycle

Although the profits are a clear cause for celebration, there are other numbers that are not so encouraging. For example, retail sales of Indian Motorcycle They decreased by 24% in the last quarter and showed a year-on-year drop.

Despite this, Polaris said the brand gained market share over the course of the year, although its North American market share saw a modest decline in the fourth quarter, standing at approximately 11%.

Indian Motorcycle

The losses were concentrated in the heaviest and largest models of Indian, while more compact models gained market share during the last quarter. Although this may seem like good news at first glance, as noted Bob Mack, Polaris CFO during the company’s presentation, larger models typically have a slightly higher gross margin than mid-size models. That is, the brand makes more money with the most expensive and equipped models.

Taking a look towards the future, Polaris has hinted that it plans to launch new models in all its segments, possibly including new catalog members. Another good news, yes sir.

Indian Motorcycle

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